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Arbitrum Price Forecast: March 18
The Arbitrum price forecast is for the sellers to take advantage of the current bearish cycle to push lower than $1.5930.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Resistance Levels: $2.1200, $2.4000
Support Levels: $1.8170, $1.5930
Arbitrum has been ranging through a channel that is bounded at the top by the $2.1200 level and below by the $1.8170 key level. The market is observed to occasionally penetrate the borders of the channel as it keeps ranging. There seems to be more and longer penetration on the downside than above the channel. This lends credence to the bears slightly having the upper hand in the market tussle. As of the time of writing, the market is on yet another bearish plunge below the lower border.
Arbitrum Price Forecast: ARB/USD Outlook
ARBUSD appears to be caught in another bearish cycle, as indicated by various crypto signals observed in the market.
Arbitrum has been moving within a channel, bounded by the $2.1200 resistance level and the $1.8170 key support level. While occasional breaches occur, there is a notable pattern of more sustained downward movements
This suggests that bears may have the upper hand in the ongoing market tussle. Presently, the market is experiencing yet another bearish plunge below the lower border of this channel, signaling further downward pressure.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
On the daily chart, the price has drifted significantly below the MA period 20 (Moving Average), which appears to be moving sideways. Concurrently, the Stochastic Oscillator lines exhibit a ranging movement from oversold to overbought territories, reflecting the market’s indecisiveness and potential for directional shifts in the near term, according to crypto signals.
A closer look at the 4-hour chart reveals stronger bearish signals. The MA period 20 is sloping downward on the candlesticks, indicating a prevailing bearish sentiment in this timeframe. Moreover, the Stochastic Oscillator lines, previously characterized by volatile swings, are now converging near the oversold border. This suggests heightened selling pressure as sellers aim to drive the price below $1.5930.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
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